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| ▲ This file photo, taken Oct. 3, 2021, shows signs about a bank's loan programs that were put up on the exterior of a lender in Seoul. (Yonhap) |
delinquency ratio-August tally
Delinquency ratio on bank loans edges up in August
SEOUL, Oct. 25 (Yonhap) -- The delinquency ratio on loans extended by banks in South Korea inched up from a month earlier in August with the ratio for both corporate and household loans rising, preliminary data showed Wednesday.
The delinquency ratio on banks' won-denominated loans came to 0.43 percent as of end-August, up 0.04 percentage point from a month earlier, according to the data from the Financial Supervisory Service (FSS).
The reading marks a 0.19 percentage-point increase from the same month last year. The ratio reflected loans overdue by at least one month in principal and interest payments.
The ratio of newly overdue loans came to 0.1 percent in August, up from 0.09 percent the previous month. The value of newly overdue loans came to 2.2 trillion won (US$1.63 billion), compared with 2 trillion in July, according to the FSS data.
The value of resolved loans increased to 1.4 trillion won from 1.1 trillion won over the cited period.
The delinquency ratio for corporate loans was up 0.06 percentage point from a month earlier at 0.47 percent as of end-August, while the ratio for household loans came to 0.38 percent, up 0.02 percentage point over the cited period.
"The local banks' delinquency ratio continues to remain stable as of now, compared with the long-term average, but there exists a need to prepare for the possibility of an additional increase in the future due to high interest rates and the continued expansion of economic uncertainties," the FSS said in a press release.
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